The October Commonwealth Budget is looming as the key test to whether the Australian Government will follow other international leaders in integrating land and climate repair into COVID recovery planning. Hopefully they will join state and territory governments actively integrating strategies across clean energy, industrial development and land management towards achieving net-zero emissions by 2050.
This will be crucial not only to help in achieving Paris Agreement goals but also in ensuring our exports are not unduly exposed to carbon tariff adjustments, increasingly a feature of our trading partners’ planning. This was a concern to 70% of business respondents in our 2019 Survey. Moves by the EU and Presidential candidate Joe Biden are enlivening their prospect.
This month, after consultation with our members, we have shared our position on the Government’s responses to the King Review. We are working with Government on the implementation of many of the recommendations. Our focus is on aligning initiatives to long term investment in the transition to net-zero emissions and the expansion of current and prospective methodologies.
There are significant untapped opportunities to develop Australia’s emission reduction and carbon farming industries, key to our prosperity in the post carbon world.
Our Carbon Conversations series on participating in Australia’s carbon markets have been very well received. Past ones can be viewed online with more to come. These come with an unstoppable surge in business commitments embracing technological developments, examining supply chains and investing in carbon reduction activities.
Next week we will be, at least virtually, popping the Kiwi bubble to look at significant developments there. Today’s Indigenous Carbon Conversation was also illuminating as we look to ways to integrate history repair with land and climate repair.
Finally, our Quarterly International Update also included a call on the Government to explore how Australia’s Pacific step-up can include investment in pilot nature based climate solution projects that can bring carbon, economic and social benefits in international trading opportunities to emerge under the Paris Agreement.
Details on all the above and other exciting developments this month are below.
With support from our growing list of members we can continue to work provide these updates and other services. Please see the benefits you’ll receive through Corporate or Associate CMI Membership or as an individual Professional Network Member (tax deductible), this includes access to our recently relaunched Members Portal.
Carbon Market Institute